In addition to representing artists, actors and athletes, CAA is heavily involved in the sports world, and has other initiatives including an investment bank, venture fund, technology start-ups, brand marketing and sponsorships services. CAA advises consumer brands including Coca-Cola, General Motors, Chipotle, Diageo, Farmers Insurance, and IMAX.

TPG’s new majority stake could put CAA on a path to an initial public offering.

The terms of the investment were not disclosed. The transaction is subject to customary closing conditions. UBS and LionTree Advisors served as financial advisor to CAA. Wachtell, Lipton, Rosen & Katz served as legal counsel to CAA. Cleary Gottlieb Steen & Hamilton LLP served as legal counsel to TPG.